JOBS | Employment Index Drops, Raising Risk of U.S. Job Losses in 2011


Batten down the hatches!

Keep putting money into your piggy bank, curtail new debt, polish up
your current skills and learn some new ones.

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(Bloomberg) — A measure of U.S. job prospects fell in September for
the second time in five months, raising the risk the world’s largest
economy will lose more jobs in 2011, according to a report today from
the Conference Board.

“The likelihood of another episode of job losses in increasing,” Gad
Levanon, associate director of macroeconomic research at the
Conference Board, said today in a statement. “As employment lags
changes in the economy, and with GDP growth forecasted to slow even
further in early 2011, we may see negative job numbers next year.”

The Employment Trends Index aggregates eight labor-market indicators
to forecast short-term hiring trends. On average, the gauge can signal
a rebound in hiring as little as three months before the fact and can
predict job declines six to nine months in advance, the Conference
Board said.

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